Nokia agrees with EQT Partners on the sale of Vertu

Vertu phones are considered one of the best in their segment. Yes, with functionality they are not doing well, but few people buy them for the sake of software capabilities. No, these are premium phones, which can be called “status” - in any case, Nokia is trying to show them in this perspective. Vertu-phones cost a lot, and make a profit. But for Nokia, it’s still a non-core asset that you can sell and get some money for other projects.

The corporation is currently negotiating with the Swedish EQT Partners fund on the sale of Vertu. Experts believe that the transaction value may be approximately 200 million euros. True, an agreement between the companies has not yet been concluded, and the transaction may not take place at all. But for Nokia, receiving an additional 200 million euros is a good option, since the Finnish company is not doing well with finances.

As far as Vertu is concerned, it is a “company in a company”, so to speak. The division is autonomous, and works on its own, bringing a certain profit. True, the new Vertu models have not been released for a long time. The latest model was released two years ago, in 2010. Actually, the characteristics of most Vertu just remained at the level of 2008-2010. Nokia obviously has neither the time nor the resources now needed in other projects to update the line.

Well, the sale of such an asset can help to kill two birds with one stone - and get additional funds, and get rid of the need to develop new Vertu models. Previously, Permira expressed a desire to buy this unit, but it didn’t come to a direct purchase.

Via ft.com